Top 5 Mistakes an Agent makes when Renting Business Premises
Attwells Commercial Real Estate Team combines impressive technical ability with an innate commercial mindedness to produce an ideal service for our property professional. Having acted for over a decade on all commercial property matters for one of the country’s most prominent independent agencies, we understand the particularities of the Estate Agent sector in a commercial property context.
We will take the time to understand your priorities and the specific issues affecting your business. We place emphasis on building a strong personal relationship with you so that we can more easily accommodate your style of working.
If you are looking to expand your business either by purchasing or leasing new premises, Attwells will negotiate the best possible terms.
If your business owns its own investment portfolio, we will make sure that you receive a full FRI lease with a clean income stream, every time.
In a competitive market, the speed and diligence of your lawyer is key. With Attwells, your lawyers will be proactive in pushing your matter forward to an efficient and satisfactory conclusion. Attwells advise landlords and tenants, large and small, on all types of letting with particular expertise in the property, retail and office sectors.
- Failure to understand the liability of an FRI Lease. Be sure to understand the extent of your repairing obligation. Is it an FRI lease? Are you responsible for the upkeep of the structure? Have you had a survey to ascertain whether the structure is in good repair?
- Failure to ensure flexibility for disposal. Make sure you can group company share. Make sure if the premises divides vertically or horizontally that you can sublet part too. Tenant break clause on 3 months notice no restrictions. The property market is uncertain.
- Avoid security. Don’t give a PG unless you have to. Keep business and personal finances separate. Don’t tie up valuable cash in a rent deposit limiting cash-flow. Make sure that any security given can be released following 3 years’ of successful trading.
- Make sure you have a wide use clause. You may want to do financial or other services.
- Avoid a headline rent. Sneaky rent review clauses can lead to the creation of a rent on review of in excess of the market rent. This is a headline rent.
If you are looking for property lawyers to work with then Lisa Nyland would be delighted to hear from you and to discuss the options available.